• 2018 December 10 18:08

    US major retail container ports imports reach 2 million containers in October 2018

    Imports at the US major retail container ports have set another new record, reaching 2 million containers in a single month for the first time as retailers continued to bring merchandise into the country ahead of a now-postponed increase in tariffs on goods from China, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

    “President Trump has declared a temporary truce in the trade war, but these imports came in before that announcement was made,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “We hope that the temporary stand-down becomes permanent, but in the meantime there has been a rush to bring merchandise in before existing tariffs go up or new ones can be imposed. China’s abuses of trade policy need to be addressed, but tariffs that drive up prices for American families and costs for U.S. businesses are not the answer.”

    U.S. ports covered by Global Port Tracker handled 2.04 million Twenty-Foot Equivalent Units in October, the latest month for which after-the-fact numbers are available. That was up 9 percent from September and up 13.6 percent year-over-year. A TEU is one 20-foot-long cargo container or its equivalent.

    The October number was the highest for a single month since Global Port Tracker began counting cargo in 2000, topping the previous record of 1.9 million TEU set in July, which in turn had beat a record of 1.83 million TEU set in August 2017.
     
    November was estimated at 2.01 million TEU, a 14 percent year-over-year increase that would have been a new record if not for the October number. December – normally a slow month with holiday merchandise already on the shelves – is forecast at 1.83 million TEU, up 6.1 percent year-over year. Those numbers would bring 2018 to a total of 21.8 million TEU, an increase of 6.5 percent over last year’s record 20.5 million TEU.

    Both year-over-year growth rates and total volume are expected to slow considerably in January, when 10 percent tariffs on $200 billion worth of Chinese products that took effect in September had been scheduled to increase to 25 percent. Trump announced last weekend after a meeting with Chinese President Xi that the increase – and a threat to impose tariffs on all Chinese products – would be put on hold while the two countries conduct 90 days of negotiations. Official action to delay the tariff increase has yet to be announced, however.

    January 2019 is forecast at 1.72 million TEU, down 2.1 percent from January 2018; February at 1.67 million TEU, down 1 percent year-over-year; March at 1.57 million TEU, up 1.7 percent, and April at 1.7 million TEU, up 3.7 percent.

    While cargo numbers do not correlate directly with sales, the imports are also being driven by this year’s strong retail sales. NRF has forecast that 2018 holiday season retail sales – excluding automobiles, restaurants and gasoline stations – will increase between 4.3 percent and 4.8 percent over last year. Retail sales for all of 2018 are forecast to be up at least 4.5 percent over 2017.

    Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast.

    About NRF
    The National Retail Federation is the world’s largest retail trade association. Based in Washington, D.C., NRF represents discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.


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